Casscoe, Arkansas County, Arkansas Property Taxes
The median property tax rate in Casscoe, AR is 0.72%, considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Casscoe at $66,075, the typical annual property tax bill amounts to $425, significantly below the national median of $2,690. Property taxes in Casscoe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Casscoe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Casscoe or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Casscoe, Arkansas County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$476
$441
Ownwell’s Casscoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Casscoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Casscoe to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Casscoe, Arkansas County, Arkansas
Property taxes in Casscoe, Arkansas, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Casscoe is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Casscoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Casscoe estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Casscoe's effective property tax rate to other counties in Arkansas and the national median. For comparison, the zip code 72026 has the highest median property tax rate of 0.72%, while also having the lowest median tax rate of 0.72%. Understanding how these cities compare with Casscoe provides valuable insights into the varying tax landscape across Arkansas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Casscoe Tax Rate
0.72%
Average Arkansas County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Casscoe, Arkansas County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72026 | 0.18% | 0.41% | 0.72% | 0.80% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Casscoe, Arkansas County, Arkansas
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Casscoe, Arkansas. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Casscoe, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Casscoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the median home price in Casscoe is $66,075, with tax bills ranging from $153 at the 25th percentile to $1,333 at the 90th percentile. The highest and lowest median tax bills are both $425 in the 72026 zip code. This knowledge can empower homeowners to make informed decisions about their property taxes.
Property Tax Assessment Values Across Casscoe, Arkansas County, Arkansas
Source: Ownwell
$34,750
$65,623
$96,495
Average Casscoe Assessed Value
$66,075
Average Arkansas County Assessed Value
$70,958
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Casscoe, Arkansas County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72026 | $4,990 | $31,086 | $66,075 | $124,800 | $190,126 |
Source: Ownwell
Property Tax Bills Across Casscoe, Arkansas County, Arkansas
In Casscoe, Arkansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Casscoe is $66,075. Homeowners' tax bills can vary significantly, with the 25th percentile paying around $153 annually and the 75th percentile paying up to $680. At the 90th percentile, the tax bill can rise to $1,333. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. The highest median tax bill in the area is $425, which is consistent across the zip code 72026. Compared to the national median property tax rate of 0.99%, Casscoe's property taxes can be relatively manageable for homeowners. Understanding these factors is crucial for homeowners to anticipate their annual expenses and budget accordingly. The variability in tax bills highlights the importance of accurate property assessments and the potential benefits of appealing an assessed value if it seems disproportionately high.
Average Casscoe Tax Bill
$425
Average Arkansas County Tax Bill
$414
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Casscoe, Arkansas County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72026 | $56 | $153 | $425 | $680 | $1,333 |
Source: Ownwell